Shares in low-cost service Wizz Air fell by greater than 5 per cent in early buying and selling this morning as Indigo Companions stated it could divest half of its stake within the airline.
The US non-public fairness agency, which additionally owns stakes in American Frontier Airways and Chilean low-cost airline JetSmart, bought simply over 7.69 million shares in a inserting.
The shares had been bought to institutional traders by means of an accelerated bookbuild at £52 every, elevating gross proceeds of round £400 million.
Following completion of the inserting, Indigo will maintain 7.3 million shares in Wizz Air, down from 15 million, or a stake of 17.5 per cent.
The share inserting is because of be accomplished by Thursday, in response to Barclays Financial institution, which is appearing as the worldwide co-ordinator on the deal.
Wizz Air stated it won’t obtain any proceeds from the transaction.